Sunday, 22 October 2017

Mentha oil futures down on easing demand

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Mentha oil futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions.
At the MCX, mentha oil futures for October 2017 contract was trading at Rs 1249.90 per kg, down by 0.71 per cent, after opening at Rs 1252.30, against the previous closing price of Rs 1258.90. It touched the intra-day low of Rs 1246.40. 



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Tuesday, 17 October 2017

India's Edible oil import may hit new high in 2017-18

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India's imports of edible oil is likely to hit a record level during the coming oil year of 2017-18 (November-October). A decline in availability from domestic sources is expected, following lower oil seed production and sustained increase in consumption.

According to data compiled by the apex industry body, the Solvent Extractors' Association, vegetable oil import at 14.27 million tonnes for the 11-month period ended September 2017, compared with 13.57 mt in the corresponding period last year. Another 1.2-1.3 mt of import in October would take the year's import to 15.5 mt, a record.

As for the oil year 2017-18, less of sowing and crop damage due to flooding in major growing regions has reduced the Sybean crop size. From last year's 12 million tonnes, Soybean output is forecast at below nine million tonns.

With four per cent increase in per capita consumption to add around 0.8 million tonnes of demand every year, and the lower acreage, dependence on imported edible oil would increase, industry sources said.




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Monday, 16 October 2017

FREE AGRI COMMODITY MARKET NEWS & LEVELS - 17 OCT 2017

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Turmeric Nov futures slipped on Monday (5:00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric is decreased by -0.54% to 7396 level at NCDEX.  
Turmeric traded sideways even as prices found some strong support at these levels. However lack of strong demand amidst higher stocks in mandis prevented strong uptrend. Approaching festivals and rise in export demand from Gulf countries will be supportive in near term even as Technicals look weak for now. Latest reports from Erode in Tamil Nadu indicate a drastic fall in sowing in those regions due to a drought like situation this year. As per trader estimates, the production this year is expected to fall to 1-3 lakh bags from the normal 15-20 lakh bags seen on an average. This lower production will be to some extent compensated by a higher production expectation from AP and Maharashtra.  
TURMERIC (NOV) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2: 7510 
RESISTANCE 1: 7450 
SUPPORT 1: 7360 
SUPPORT 2: 7320 
STRATEGY:  SELL ON RISE 

The NCDEX Soyabean Nov futures slipped by -0.61% in the last trading to close at 2920 level till Monday closing.  
Soybean in the current week can show upside bounce due to strongly oversold conditions. Nevertheless the upside momentum can reduce soon because of subdued export demand for soymeal and start of the harvest season in US and India. The bulls have been discouraged of late in global soybean markets as the USDA raised the US crop yields in its latest demand-supply report, released on 12th. As per the recently released report global oilseed production is forecast higher this month to a record 579.0 million tons. Global soybean production is boosted this month as larger output for the United States and Bolivia more than offsets reductions in Uruguay and Serbia. Cottonseed crop prospects are raised for India, Brazil, and the United States.  
SOYABEAN (NOV) TECHNICAL VIEW: 
TREND: SIDEWAYS 
RESISTANCE 2: 2960 
RESISTANCE 1: 2940 
SUPPORT 1: 2900 
SUPPORT 2: 2880 
STRATEGY:  SELL ON RISE  

The NCDEX Guarseed Nov futures is surged up by 1.24% in the last trading to close at 3834 level till Monday closing.  
Guargum failed to pick up even as it traded at the psychological 8000 mark. Expected high arrivals of the new crop in coming weeks kept pressure on prices as a firm export demand failed to support. Good rains in Rajasthan till few weeks back raised prospects of better crop productivity for Guar as that pressurized market sentiments. However, too much downtrend may be limited as exports too rise aided by a continuously strengthening Dollar vs Rupee. Overall fundamentals look firm with rising export demand amidst concerns on the production front from the recent crop losses, because of excess rains in Rajasthan, just few weeks back. 
GUARSEED (NOV) TECHNICAL VIEW:  
TREND: SIDEWAYS 
RESISTANCE 2: 3950  
RESISTANCE 1: 3890 
SUPPORT 1: 3740 
SUPPORT 2: 3650 
STRATEGY:  BUY ON DIPS

The NCDEX Dhaniya Nov futures surged up by 1.01% in the last trading to close at 4911 level on Monday.  
Lack of buying activities due to heavy rainfall led to further decline in spot price. Arrivals of 3000 bags have been witnessed in Kota market. No change has been observed compared to previous day. Arrivals in Guna market (MP) have also been steady at 3000 bags. Smaller market like Ramganj has also observed lower arrivals of 1000 bags to a total of 5000 bags. Also during this week, arrivals in Gondal market have been in a steady range of 4000-5000 bags. Higher supply and weak domestic demand is expected to bring further decline in spot price for the day. There may be higher moisture content in coriander stocks due to heavy rain fall in Gujarat and Rajasthan. But overall trend is still bearish in the market. 
DHANIYA (NOV) TECHNICAL VIEW:   
TREND: SIDEWAYS 
RESISTANCE 2: 5010 
RESISTANCE 1: 4960 
SUPPORT 1:  4820 
SUPPORT 2: 4730 
STRATEGY: BUY ON DIPS 

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Sunday, 15 October 2017

FREE AGRI COMMODITY MARKET NEWS & LEVELS - 16 OCT 2017

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Turmeric Nov futures slipped on Friday (5:00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric is decreased by -0.88% to 7440 level at NCDEX.  
Turmeric traded sideways even as prices found some strong support at these levels. However lack of strong demand amidst higher stocks in mandis prevented strong uptrend. Approaching festivals and rise in export demand from Gulf countries will be supportive in near term even as Technicals look weak for now. Latest reports from Erode in Tamil Nadu indicate a drastic fall in sowing in those regions due to a drought like situation this year. As per trader estimates, the production this year is expected to fall to 1-3 lakh bags from the normal 15-20 lakh bags seen on an average. This lower production will be to some extent compensated by a higher production expectation from AP and Maharashtra.  
TURMERIC (NOV) TECHNICAL VIEW: 
TREND: BULLISH 
RESISTANCE 2: 7560 
RESISTANCE 1: 7500 
SUPPORT 1: 7390 
SUPPORT 2: 7350 
STRATEGY:  BUY ON DIPS  

The NCDEX Soyabean Nov futures surged up by 0.38% in the last trading to close at 2934 level till Friday closing.  
Soybean in the current week can show upside bounce due to strongly oversold conditions. Nevertheless the upside momentum can reduce soon because of subdued export demand for soymeal and start of the harvest season in US and India. The bulls have been discouraged of late in global soybean markets as the USDA raised the US crop yields in its latest demand-supply report, released on 12th. As per the recently released report global oilseed production is forecast higher this month to a record 579.0 million tons. Global soybean production is boosted this month as larger output for the United States and Bolivia more than offsets reductions in Uruguay and Serbia. Cottonseed crop prospects are raised for India, Brazil, and the United States. 
SOYABEAN (NOV) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2: 2970 
RESISTANCE 1: 2950 
SUPPORT 1: 2930 
SUPPORT 2: 2910 
STRATEGY:  SELL ON RISE 

The NCDEX Guarseed Nov futures is slipped by -0.86% in the last trading to close at 3784 level till Friday closing.  
Guargum failed to pick up even as it traded at the psychological 8000 mark. Expected high arrivals of the new crop in coming weeks kept pressure on prices as a firm export demand failed to support. Good rains in Rajasthan till few weeks back raised prospects of better crop productivity for Guar as that pressurized market sentiments. However, too much downtrend may be limited as exports too rise aided by a continuously strengthening Dollar vs Rupee. Overall fundamentals look firm with rising export demand amidst concerns on the production front from the recent crop losses, because of excess rains in Rajasthan, just few weeks back. 
GUARSEED (NOV) TECHNICAL VIEW:  
TREND: SIDEWAYS 
RESISTANCE 2: 3850  
RESISTANCE 1: 3820 
SUPPORT 1: 3760 
SUPPORT 2: 3740 
STRATEGY:  SELL ON RISE 

The NCDEX Dhaniya Nov futures slipped by -1.48% in the last trading to close at 4866 level on Friday.  
Lack of buying activities due to heavy rainfall led to further decline in spot price. Arrivals of 3000 bags have been witnessed in Kota market. No change has been observed compared to previous day. Arrivals in Guna market (MP) have also been steady at 3000 bags. Smaller market like Ramganj has also observed lower arrivals of 1000 bags to a total of 5000 bags. Also during this week, arrivals in Gondal market have been in a steady range of 4000-5000 bags. Higher supply and weak domestic demand is expected to bring further decline in spot price for the day. There may be higher moisture content in coriander stocks due to heavy rain fall in Gujarat and Rajasthan. But overall trend is still bearish in the market. 
DHANIYA (NOV) TECHNICAL VIEW:   
TREND: SIDEWAYS 
RESISTANCE 2: 5020 
RESISTANCE 1: 4940 
SUPPORT 1:  4810 
SUPPORT 2: 4760 
STRATEGY: SELL ON RISE 



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647